SINGAPORE - A mixed development site along Yio Chu Kang Road has been launched for tender on Nov 28 with a reserve price of around S$22 million.

The Stradia, a mixed development site built in the 1990s and located at 78 Yio Chu Kang Road, consists of eight residential units and three retail shops. It is located near Serangoon Garden Village, NEX Mall and Serangoon Stadium.

The 8,241 square feet site has a gross plot ratio of 3.0, denoting S$889 per square foot per plot ratio (psf ppr).

No development charge is payable.

The freehold site is "suitable for budding boutique developers itching to enter the property market at a low quantum", said real estate agency Mount Everest Properties, which is marketing the en bloc sale.

The agency says the successful bidder will have a chance to re-develop the site with an adjoining remnant state land plot, subject to approval from the Singapore Land Authority.

The tender closes on Jan 10, 2018.